Micron Technology Unusual Options Activity For June 04

Investors with a lot of money to spend have taken a bullish stance on Micron Technology MU.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MU, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 55 uncommon options trades for Micron Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 34%, bearish.

Out of all of the special options we uncovered, 14 are puts, for a total amount of $2,991,975, and 41 are calls, for a total amount of $3,128,028.

Latest Startup Investment Opportunities:

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $220.0 for Micron Technology over the last 3 months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Micron Technology's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Micron Technology's significant trades, within a strike price range of $60.0 to $220.0, over the past month.

Micron Technology Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Micron Technology

Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.

Current Position of Micron Technology

• With a volume of 11,630,465, the price of MU is up 0.87% at $103.14.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 21 days.

Professional Analyst Ratings for Micron Technology

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $98.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Micron Technology, which currently sits at a price target of $98.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Micron Technology options trades with real-time alerts from Benzinga Pro.